Brexit limbo pauses British Pound

Brexit limbo pauses British Pound

The British Pound stabilized on Thursday as Brexit enters a fresh holding pattern.

Sterling held at $1.2911 after Britain’s parliament backed a withdrawal deal while European Union members delayed deciding whether to grant a three-month extension to the October 31^st leaving date.

The Pound has soared 6% in its 2-week, high-volatile trade sessions since British PM Boris Johnson flagged and later finalized a deal with the EU on the terms of Britain’s exit from the bloc.

“Sterling remains at the center of the focus of forex markets,” said Michael McCarthy, chief market strategist at brokerage CMC Markets in Sydney.

“It looks like traders are weighing up the current parliamentary shenanigans versus the inevitability of a Brexit,” he said.